Industrial Warehouse with Loading
For Sale
$5,895,000
15939 Illinois, Paramount, CA 90723
Concrete tilt-up warehouse with M-2 Heavy Manufacturing zoning, fenced parking, and access to major Southern California transportation routes.
Property Size15,176 SF
Price / SF$388.44
Days on Market129
Property Features for 15939 Illinois
General Information
Standard status
Active
Size
15,176 SF
Total Parking Spaces
30
Property subtype
Industrial
Zoning
M-2
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Clear Height
24 ft
Warehouse Space
15,176 SF
Dock-High Doors
5
Building Details
Building Size
15,176 SF
Year Built
2006
Buildings
1
Construction
tilt-up concrete
Listing Agency:
Pacific Sotheby's Int'l Realty
(714) 421-3377
Listed By:
David Biehler · License #01024996
Source:
Elliman
Added: Apr 24
Changed: Aug 29
Last Checked: Aug 29 at 2:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pacific Sotheby's Int'l Realty
Investment Insights
Based on property information with market context.
Built in 2006, this 15,176-square-foot warehouse uses concrete tilt-up construction and provides a functional industrial layout with 24-foot clear height. The building includes five loading docks, five bathrooms, and a fully fenced parking lot with 30 on-site spaces. M-2 Heavy Manufacturing zoning supports manufacturing, distribution, and logistics uses.
The property is located at 15939 Illinois in Paramount, California, within a logistics corridor serving the greater Los Angeles region. Access to I-710 and SR-91 connects the site with the Ports of Los Angeles and Long Beach and other Southern California transportation routes. Walk Score is 81, Bike Score is 72, and Transit Score is 41.
The property is located at 15939 Illinois in Paramount, California, within a logistics corridor serving the greater Los Angeles region. Access to I-710 and SR-91 connects the site with the Ports of Los Angeles and Long Beach and other Southern California transportation routes. Walk Score is 81, Bike Score is 72, and Transit Score is 41.
Key Highlights
- 15,176‑square‑foot industrial warehouse built in 2006
- 24‑foot clear height with concrete tilt‑up construction
- M‑2 Heavy Manufacturing zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$197,469
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,949,380
$3.9M
Cap Rate 7%
$2,820,986
$2.8M
Cap Rate 9%
$2,194,100
$2.2M
Market Conditions
NOI Build-Up for 15,176 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$244.0K $16.08/SF
− Vacancy
−$11.7K −$0.77/SF
EGI
$232.3K $15.31/SF
− OpEx
−$34.8K −$2.30/SF
NOI
$197.5K $13.01/SF
Area
Los Angeles County, CA
Vacancy
4.80%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,949,380
Cap Rate 7%
$2,820,986
Cap Rate 9%
$2,194,100
Alternative Uses
Best Use
Warehouse
$2.82M
$2.47M – $3.29M
NOI $197,469 @ 7.0% cap · market cap 3.35%
Second Best
Industrial
$2.53M
$2.22M – $2.96M
NOI $177,348 @ 7.0% cap · market cap 3.01%
Theoretical Best
Office A
$8.13M
$7.11M – $9.48M
NOI $568,762 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
5
Dock-high doors
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,659
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 90723, CA
53,770
Population
14,585
Households
3.7
Avg Household Size
33
Median Age
13%
College-Educated
66%
High-School Grad
4.7 sq mi
ZIP Area
11,440
Density / Sq Mi
$70,912
Median Household Income
$35,032
Median Earnings
$1,772
Median Rent
$500,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Concrete tilt-up warehouse with M-2 Heavy Manufacturing zoning, fenced parking, and access to major Southern California transportation routes.
Where is this warehouse located?
The property is located at 15939 Illinois Paramount, CA.
What is the asking price?
The asking price for this property is $5,895,000.
What are key features of this property?
This property features: 15,176‑square‑foot industrial warehouse built in 2006; 24‑foot clear height with concrete tilt‑up construction; M‑2 Heavy Manufacturing zoning
